Maltin Wealth Management Inc. Makes New $214,000 Investment in BlackRock $BLK

Maltin Wealth Management Inc. purchased a new stake in BlackRock (NYSE:BLK) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 204 shares of the asset manager’s stock, valued at approximately $214,000.

A number of other hedge funds have also modified their holdings of BLK. Royal Bank of Canada boosted its stake in BlackRock by 73.2% during the first quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock worth $1,243,059,000 after buying an additional 555,098 shares during the period. Vanguard Group Inc. boosted its position in shares of BlackRock by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock worth $13,027,419,000 after purchasing an additional 387,466 shares during the period. Goldman Sachs Group Inc. raised its position in BlackRock by 32.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock valued at $1,071,339,000 after purchasing an additional 279,336 shares during the period. McElhenny Sheffield Capital Management LLC purchased a new position in shares of BlackRock during the second quarter worth $231,000. Finally, Unisphere Establishment grew its stake in shares of BlackRock by 29.2% in the first quarter. Unisphere Establishment now owns 839,500 shares of the asset manager’s stock valued at $794,570,000 after buying an additional 189,500 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at BlackRock

In other BlackRock news, Director Rachel Lord sold 12,000 shares of the stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the transaction, the director directly owned 7,205 shares in the company, valued at $8,394,113.20. This represents a 62.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.98% of the stock is owned by company insiders.

BlackRock Stock Performance

Shares of BLK stock opened at $1,070.02 on Friday. The company has a market cap of $165.70 billion, a P/E ratio of 27.51, a PEG ratio of 1.90 and a beta of 1.48. The firm has a fifty day moving average price of $1,131.56 and a 200 day moving average price of $1,066.45. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,219.94.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). The business had revenue of $6.51 billion during the quarter, compared to analyst estimates of $6.22 billion. BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The firm’s quarterly revenue was up 25.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $11.46 earnings per share. Sell-side analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BLK has been the topic of several research reports. Morgan Stanley increased their target price on BlackRock from $1,362.00 to $1,486.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. BNP Paribas Exane raised their price objective on shares of BlackRock from $1,160.00 to $1,265.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Wells Fargo & Company cut their target price on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 16th. TD Cowen raised their price target on shares of BlackRock from $1,301.00 to $1,407.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Finally, Loop Capital set a $1,255.00 price objective on BlackRock in a research report on Tuesday, October 21st. Seventeen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,299.29.

BlackRock Company Profile

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.